Xperi (XPER) Given Outperform Rating at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Xperi (NASDAQ:XPER) in a research report sent to investors on Monday, Briefing.com Automated Import reports. Royal Bank of Canada currently has a $30.00 target price on the semiconductor company’s stock.

XPER has been the topic of a number of other reports. BidaskClub raised Xperi from a strong sell rating to a sell rating in a report on Thursday, February 7th. Zacks Investment Research lowered Xperi from a hold rating to a strong sell rating in a report on Saturday, March 2nd. Craig Hallum raised their price target on Xperi from $28.00 to $32.00 and gave the company a buy rating in a report on Thursday, February 21st. They noted that the move was a valuation call. Finally, National Securities reissued a buy rating and set a $36.00 price target on shares of Xperi in a report on Thursday, May 9th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $29.00.

Shares of NASDAQ XPER opened at $23.55 on Monday. Xperi has a 1-year low of $12.08 and a 1-year high of $25.84. The company has a current ratio of 8.46, a quick ratio of 8.46 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of 9.50 and a beta of 0.26.

Xperi (NASDAQ:XPER) last issued its earnings results on Wednesday, February 20th. The semiconductor company reported $1.00 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.06 by ($0.06). Xperi had a return on equity of 20.08% and a net margin of 1.92%. The company had revenue of $141.80 million during the quarter, compared to analyst estimates of $143.00 million. Sell-side analysts anticipate that Xperi will post 1.78 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Wednesday, May 29th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date is Tuesday, May 28th. Xperi’s dividend payout ratio (DPR) is 32.26%.

Several institutional investors and hedge funds have recently modified their holdings of XPER. Norges Bank acquired a new position in shares of Xperi during the fourth quarter valued at $21,163,000. JPMorgan Chase & Co. grew its holdings in Xperi by 62.0% during the third quarter. JPMorgan Chase & Co. now owns 1,966,451 shares of the semiconductor company’s stock worth $29,203,000 after acquiring an additional 752,622 shares during the period. Renaissance Technologies LLC grew its holdings in Xperi by 352.8% during the first quarter. Renaissance Technologies LLC now owns 883,914 shares of the semiconductor company’s stock worth $20,684,000 after acquiring an additional 688,714 shares during the period. BlackRock Inc. grew its holdings in Xperi by 9.0% during the fourth quarter. BlackRock Inc. now owns 7,111,787 shares of the semiconductor company’s stock worth $130,785,000 after acquiring an additional 590,058 shares during the period. Finally, ClariVest Asset Management LLC acquired a new position in Xperi during the first quarter worth about $12,143,000. 94.96% of the stock is currently owned by institutional investors.

Xperi Company Profile

Xperi Corporation, through its subsidiaries, creates, develops, and licenses audio, imaging, semiconductor packaging, and interconnect technologies in the United States, South Korea, Taiwan, Japan, Europe, the Middle East, and internationally. The company operates in two segments, Product Licensing; and Semiconductor and IP Licensing.

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